Last fortnight, MX Player raised a $100MM, adding more firepower to fight in the fast-growing OTT market.
Last fortnight, finance minister Ms. Nirmala Sitharaman claimed that millenials using Uber and Ola are the reason for the slowdown of the auto economy, resulting in many supporters and many memes.
Shuttl and Bounce, Baby
“Bhaiya, diesel ka bhaada dene jitna nahi kama raha din mein” said a cab driver to me last week.
Children of War
The origins of venture capital go way back to the mid-1950s when an American research organization American Research and Development Corporation began investing small amounts in private companies.
The goal of the ARDC was to finance post-war veteran companies, as soldiers would look for other means of employment after the end of the World War.
While one may even qualify the financing of Christopher Columbus’ expedition by the King and Queen of Spain as “venture capital” (adventure capital?), professional VC would begin in earnest on the East Coast of the US.
Surprising Scooter Statistics
India is a densely populated country, and given the limitations of space, roads obey the same laws of density.
India’s road network is one of the densest per square km in the world, standing at 1.70km of road per square km of land, more than China and the US (surprised?).
Last week, bite-sized video content sharing platform TikTok, from China’s ByteDance, was banned for new downloads in India.
Last week, 1mg announced a $50MM fundraise to take on Netmeds and Pharmeasy in an increasingly competitive e-pharma space.
Not So Easy
Online pharmacies, while being significantly more convenient for customers, are not a game-changing concept.
Deploying $15MM in 4 diverse companies over one week is a strong signal of how particularly interesting financial technology in India is.
The year ends tomorrow and it is a great time to recap 2018 to better understand what 2019 has in store for the Indian startup ecosystem.
Walmart’s acquisition of Flipkart was the most important and influential event for the Indian startup ecosystem this year.